Global Cashew Nut Market Overview
In value terms, cashew nut production declined significantly to $ in 2018 estimated in export prices. Overall, production showed a resilient increase. The pace of growth appeared the most rapid in 2017 when the production volume increased by % year-to-year. As a result, production attained the peak level of $, and then contracted notably in the following year.
Viet Nam ( tonnes) remains the largest cashew nut producing country worldwide, accounting for % of total volume. Moreover, cashew nut production in Viet Nam exceeded the figures recorded by the second-largest producer, India ( tonnes), threefold. The third position in this ranking was occupied by Cote d'Ivoire ( tonnes), with a % share.
In Viet Nam, cashew nut production increased at an average annual rate of +% over the period from 2007-2018. The remaining producing countries recorded the following average annual rates of production growth: India (+% per year) and Cote d'Ivoire (+% per year).
In 2018, the global average cashew nut yield rose remarkably to tonnes per ha, with an increase of % compared with the previous year. The yield figure increased at an average annual rate of +% from 2007 to 2018; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of % y-o-y. Over the period under review, the average cashew nut yield reached the maximum level in 2018 and is expected to retain growth in years to come. Despite the increased use of modern agricultural techniques and methods, future yield figures may still be impacted by adverse weather conditions.
In 2018, the global cashew nut harvested area reached ha, approximately reflecting 2017. The harvested area increased at an average annual rate of +% from 2007 to 2018; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The most prominent rate of growth was recorded in 2009 with an increase of % year-to-year. The global harvested area peaked at ha in 2015; however, from 2016 to 2018, the harvested area stood at a somewhat lower figure.
The global cashew nut market size declined to $ in 2018, with a decrease of -% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption posted a buoyant increase. The most prominent rate of growth was recorded in 2017 with an increase of % against the previous year. As a result, consumption attained the peak level of $, and then declined in the following year.
From 2007 to 2018, the biggest increases were in Cote d'Ivoire, while cashew nut consumption for the other global leaders experienced more modest paces of growth.
In value terms, Viet Nam ($) led the market, alone. The second position in the ranking was occupied by India ($). It was followed by Brazil.
From 2007 to 2018, the average annual rate of growth in terms of value in Viet Nam amounted to +%. In the other countries, the average annual rates were as follows: India (+% per year) and Brazil (+% per year).
The countries with the highest levels of cashew nut per capita consumption in 2018 were Viet Nam ( kg per person), Cote d'Ivoire ( kg per person) and Mali ( kg per person).
From 2007 to 2018, the biggest increases were in Cote d'Ivoire, while cashew nut per capita consumption for the other global leaders experienced more modest paces of growth.